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. it's not all about today's rally and not all about markets. wall street preparing for citi's conference call coming up at 4:30 p.m. eastern time, 30 minutes away, after the shocking resignation today of ceo vikram pandit. you can hear that call straight away live coming up in a few minutes. we'll take you on that call. kayla is here first with this evolving story. over to you, kayla. >> thanks, maria. we have -- i want to run through what we know so far right now. let's think about this turn of events for citigroup and how this came about. we know from sources that the board has been ramping up this search for the last several weeks. we don't know exactly the catalyst for that, but they did start planning for succession back in august. now, as far as what we know, maria, vikram pandit told you that he gave a call to citi board chairman mike o'neill after the earnings call yesterday to discuss the fact that he was ready go. now, in the wake of that period of time, we don't exactly know what happened during those last few hours. we know that mike o'neill did call several memb
a critical time for new york city and the rest of the northeast as massive storm gets set to make landfall in the next two hours. the situation getting dangerous in many parts of the east coast. as you see in manhattan, there is a situation involving a damaged crane. in midtown. we will continue to update you on that and other developing stories over the course of the hour. by the way, we now know that emergency workers on the scene of that crane dangling off a 65-story building, that building is being built to a 90-story building. that's why the crane was on top of the building. they have now -- they're going as high as they can to inspect the crane. but city officials say there are no plans right now to take down the crane and remove the crane because it is simply too dangerous. governor cuomo will call into the show after that press conference, so we'll talk to him directly in terms of business on new york. first, let's get to courtney reagan, smehe's at the news des >> we're hearing from our partners at wnbc that the department of building engineers are going up in the building to insp
'm coming to you live from new york city at rockefeller center. the new york stock exchange reopening tomorrow. millions of people remain without power and the death toll is continuing to rise. wall street closed for a second straight day today but will reopen with normal trading, we are understanding, tomorrow. the former nyse chairman dick grasso joins me now. we'll get his take on what it takes to reopen after a two-day shutdown. meanwhile, bob spoke with the current ceo earlier today. he joins us with the latest details. >> it's all systems go. that's what he told me. the nyse along with all of the other exchanges will open as usual tomorrow for a full trading day. the most important issue was making sure the nyse could connect with the trading community. >> i think what we're most worried about, bob, and we've been working with the clients and will continue to do so throughout the day, is since a lot of them are working from their own contingency sites, we want to make sure it's working as planned. that's not something that's tested frequently. >> the other major issue is making
broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] finally getting some relief at the pump. los angeles wholesale gasoline falling 60 cents on governor brown's winter blend gasoline waiver. jane wells is in northridge, california. she'll explain what all that mean. a certain mandated blend accounted for 60 cents for the price of gas in california? >> reporter: well, how about that, michele? they are saying that california's case of bad gas may be coming to an end. while wholesale prices are supposed to come down, or have, retail prices haven't. i checked several retail stations i monitored on friday, the price of gas is exactly the same as on friday. aaa says the average price in los angeles of regular is $4.70, a
] after lauren broke up with me, i went to the citi private pass page and decided to be...not boring. that's how i met marilyn... giada... really good. yes! [ jack ] ...and alicia. ♪ this girl is on fire [ male announcer ] use any citi card to get the benefits of private pass. more concerts, more events, more experiences. [ jack ] hey, who's boring now? [ male announcer ] get more access with the citi card. [ crowd cheering, mouse clicks ] [ male announcer ] get more access with the citi card. why they're always there to talk. i love you, james. don't you love me? i'm a robot. i know. i know you're a robot! but there's more in you than just circuits and wires! uhhh. (cries) a machine can't give you what a person can. that's why ally has knowledgeable people there for you, night and day. ally bank. your money needs an ally. >>> welcome back. countdown mode is on. we are just over a month away from the presidential election. it's a big one. mitt romney and president obama are set to square off tonight in denver for the first of three presidential debates. you can catch it all right here li
. banks had a he very good day. good earnings overall. citi beat, jpmorgan beat, wells fargo has a little problem with margins but most of the all the bank stocks were on the upside. good day for drug stocks but lily with positive results on gastric cancer drug and abbott with positive from hepatitis c drug. most stocks near 52-week highs. >>> there could be a lot of market catalyst this week with nearly 16% of the s&p 500 set to report earnings for the last quarter. mary thompson breaking it down with the big names on the earnings calendar. >> you know that 12 of the dow 30 report tomorrow. five tomorrow, cluntd newest member united health care. investors will be keeping a close eye on coca-cola's report for hints about consumer sentiment. intel will be reporting and investors will be keeping a close eye on that for clues about demand for pcs, as well as the impact on wayning pc demand. how that will impact the average selling price of intel's chips. bank of america reports before the bell. investors will focus on any growth in the bank's businesses. american express reports after the be
in the public sock tore in terms of saving the salt lake city olympics and governor of the state of massachusetts during a point in time when we had incredible bigt situation in the state and he was able to solve that. >> that was one of the points he made at the debate. he was able in the face of different parties, he was able to -- >> go ahead. >> i was going to say, all we can do is look at the track record of the individuals to figure out what might happen going forward. >> even with all of this uncertainty, there's a recent poll of private equity executives that say they plan to invest more in 2013. are you in that camp? >> i think, again, it's hard to predict our hope is that there will be some level of growth particularly as the political environment evolves. >> you're waiting for the election like everybody else? >> waiting for the election like everyone else. >> exactly. >> sitting on cash and waiting. >> yes, you know, again, we're very much fundamental analysts of businesses and our ability to generate the kinds of returns we need to for investors and public pension fu
, speaks to the resilience of wall street as the city looks to recover from this devastating storm. the dow jones industrial down about ten points, volume not bad. lot of people expected light volume, 700 million shares traded here at the big board alone so wasn't as light as a lot of people expected. nasdaq composite lower by 10 points and s&p ticking up about a quarter of a point. it has been an historic day as the markets opened after a two-day shutdown. we get immediate action, elliott warren from kotke and associates, michael gurka of spectrum asset management in chicago. rounding out our coverage as always bob pisani here. elliott, let me kick this off with you and the energy market moves, gasoline on the move today. how was business after the two-day shutdown? >> it was a little choppy today. we saw unleaded gas rally strongly this morning. i think people are keeping an eye on what happens with the bayway refinery in new jersey. the news initially was it won't get started back up for the next week or two and there was some hope it might start up sooner and the markets hailed off towa
balance sheets. a lot of liquidity on those balance sheets. citi on the sidelines. we've seen ups and downs on the earnings for sure. margin compression here tlaeand there. . >> are earnings disappointing you? are we finally seeing this global slowdown catch up to what has been the strongest part of the economic recovery, which is the corporate sector? >> i think we're seeing several different stories, not a single story in earnings. in some cases, it's technology. technology changes. the move to mobile is hitting a few. on the other hand, those associated with the housing sector are probably seeing earnings pick up and doing well. some that have had a global footprint for sure are seeing slowdown here, pick up there. i think this is not a single story. i think there are a number of different stories depending on the model that's associated. >> very fair point. a the institutional investor that tiaa-cref is, holding so many stakes in so many companies, let me get your take on some of the stories we've been seeing. citigroup a huge story this week. vikram pandit stepping down abrup
book, it's compelling. >> what's your take on citi? last week you told clients no ceo could fix citi. what do you think about the new ceo? >> i don't know that anybody knows michael corbett outside of citi. i thought it was very clever way of combining the chairman and ceo role. but, you know, any time a ceo is replaced sort of midstream, it's a shock to the whole system. i didn't expect him to be a ceo in 2013, right. i would have expected something to happen with vikram pandit. to have something happen the day after earnings, that was a shock to everyone. >> i mean, we still don't know really what happened. the board obviously wanted him out. >> yeah. >> michael corbat, that's an interesting take. you're right. they combine the chairman and ceo roles with this new position. >> no, because it's mike o'neill's agenda. anyone can go into that slot, and it's mike o'neill's agenda. >> okay. chairman's agenda on that. in terms of job cuts, you've been saying we're going to get more layoffs on wall street. what are you expecting? >> you've seen lot of european banks have layoffs. this get
today from blackrock's trading floor in new york city. we have a lot more ahead on this special action-packed edition of the "closing bell." >>> coming up, blackrock's chairman and ceo weighs in on everything from the markets to the upcoming election to why his firm was built for these economic times. it's an interview you can't afford to miss. >>> plus, numbers game. will a bad jobs report tomorrow discredit everything the fed has done to stimulate the economy? and branching out. amazon getting into commercial lending. is this another sign that their retail profit margins are feeling squeezed? that's coming up on the "closing bell." ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. we create easy to use, powerful trading tools for all. look at these streaming charts! they're totally custom
night at a business nechevent iw york city. he told the business community he wants to enlist their help in fighting a potential cyber war against u.s. infrastructure assets. the defense secretary laid out a pretty stark set of worst case scenarios of what could happen if there's a cyber war. >> they could, for example, derail passenger trains or even more dangerous, derail trains loaded with lethal chemicals. they could contaminate the water supply in major cities or shut down the power grid across large parts of the country. >> now, as scary as though scenarios are, what he said was he needs the business community to be involved, and he pushed for legislation and new funding for a core of cyber warriors inside the pentagon here in northern virginia. what he's saying is he wants the business community to be involved here and he wants this legislation, which is going to allow partnership between the pentagon and businesses, but not all businesses are necessarily buying into this idea. we talked to the folks at the u.s. chamber of commerce. here's what they had to say. they're weary of ad
important event in the city. perhaps a first date. the traffic is bad. you need to leave early to avoid being late. maybe you just landed in a new country and you're at the airport atm trying to figure out how much cash to withdrawal. google now, which we launched on android in june, gives you all that information and more automatically with zero effort required on your part. these kind of tips and recommendations are super powerful. they really save users time and hassle. this is why i'm incredibly excited about the opportunities ahead. given our expertise in search and mobile and our track record in monetizing and such products. every day, i wake up and i'm delighted our opportunities keep growing. and we create products that are defining the future. it's a truly exciting time to be at google. now we'll hear from patrick with some details about our quarter. >> thanks, larry. good afternoon, everyone. thank you for joining us. overall, we're very pleased with the growth trajectory of our business this quarter. this, in fact, despite significant currency fluctuations in many of our inte
in europe and china as opposed to domestic weakness. i haven't seen too many cities where action isn't vibrant. >> and in terms of the u.s., i mean, you've been saying for a long time that you think the u.s. economy is better off than people think. what are you seeing in terms of the u.s., ron? >> that's kpak lexactly what i . i was in boston about a week and a half ago. it was hopping. you go to new york city, san francisco, florida, you go around the country, restaurants are full. you walk into a starbucks, that stock is down, yet here in the u.s., it's always busy. the same for mcdonald's. i think some of these stocks actually are getting quite cheap and interesting from a domestic perspecti perspective. the wild card still seems to be overseas. >> maria, they keep talking global, global. when i look at some of those companies -- in fact, this morning i was tweeting it out. some companies talking more ambitiously about their u.s. business. you have chicago bridge come out this afternoon. they were talking about their business in the u.s. being okay. >> well, that's the thing. i th
of two cities. large concerns about macroeconomic growth. i tell you, 6% is a lot better than zero. point one. if you look inside these economies, the key concern about china right now is overinvestment potentially in fixed assets, primarily real estate and infrastructure. if you take that and put that aside at the moment, if you look at what's going on in the chinese economy, it's just roaring in terms of its growth. we made an investment recently with a large group. in fact, it's one of the largest investments ever made in alibaba. it's growing quickly with the trend of the penetration of the internet in china. chinese just recently announced they're going to hook up broadband communications to 250 million households in china. that's almost as many people as we have in the united states. >> can yahoo! compete with that? >> they do very different things. alibab, one of the great things about the business is it's a commerce company. it's more like an amazon or ebay than a yahoo! in that it does enormous amounts of commerce online. that's extremely important in the chinese economy where th
Search Results 0 to 14 of about 15

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